August 11 ~ 12, the international gold declined substantially, within 24 hours of gold have been below 850,830,810 dollars, and other important juncture, Zhibi 800 U.S. dollars, its worst decline in the number of gold investors panic overnight .
Chengdu speculation in the off-yong is one of them.
From the gold at 852 U.S. dollars do more Jukui more than 55,000 U.S. dollars, to consecutive shots, the loss will be reduced to around 13,000 U.S. dollars, Yu Yong of this 24 hours, is frightening.
August 11
22:02
852 U.S. dollars
Chengdu Huan Huaxi a high-end properties.
The daytime noise gradually subsided, the Olympics came downstairs living room occasional refueling cheers.
Yong sitting in the study of the notebook in front of the computer, watching the face of the gold market, slightly Zhouqi the eyebrow.
The gold market as its own forecasts, dropped to 852 U.S. dollars, the import Jiancang more than 25 single-hand the order, he has a micro-hesitation, history will repeat it again »he asked himself in his heart.
Chengdu, as one of the few who was speculation the gold bull market of the disk with a good feeling, so that in the past two years doing the wind-yong Shunshui, assets up more than tenfold, from 2003, he resigned as work Allied to the speculation. The first week of Friday, gold prices also dropped to 852 U.S. dollars, Yu Yong was Jiancang more than 20 single-hand, this afternoon, gold rose to 865.35 U.S. dollars when he decisive positions, the deal has brought him 26,600 U.S. dollars The proceeds.
The same trick again, very dramatic is not it »his mind, smiled, points under the Jiancang the button, there is only the hearts of Yin Yin unrest brewing in the time and can not clear.
August 12
0:26
831 U.S. dollars
The Heichen Chen Yu Ye, all of a sudden bright lights up.
Vaguely to the unease in Ban Shui-yong from the state of sober, notebook computers will be activated from the dormant state, only a few seconds, he returned to the familiar interface of the gold spot market, soon he was like that of the general Daoxiao movement plans a shock .
Refresh interface, the software market to open another, watching the same trend, Yu Yong immediate confirmation of the software is not wrong: the New York market price of gold opened soon encountered the crash, 50 minutes for gold has plummeted 20 U.S. dollars, at the moment, Gold was down to 0.5 U.S. dollars per minute down the pace of the fall, and continue to set the minimum pricing.
Sent out suppressed, ridiculed and feared, in-yong to the fastest speed out of trading platforms, 830.3 U.S. dollars in import prices on the open instructions, see the profit and loss account on the dazzling -55225 dollars, accounts, 1 / 3 of the assets of the blink of an eye Inter destroyed, so he feels as if outside an absurd dream.
Five years of investment experience gold in the gold-yong think very understanding of the characteristics of the gold - the previous crash, has not really hurt him.
"There is a plan to make all of this right!" Yong was often said to myself, this is TV drama "escape" the classic lines - a good plan can make all the best. In this two-year bull market in gold, he is using these words to remind ourselves that in accordance with good set-point goal, step by step accumulation of wealth, and the time and escaped the catastrophic decline of gold.
Mid-May 2006, he reached 700 U.S. dollars in gold at the decisive positions in gold a month after the crash, he can Kongcang idle fluctuation.
In March this year, the magnificent gold "-1000" in the market, he carefully selected the 1020 point positions and successfully survived the second day as many as 45 U.S. dollars one-day plunge, carrying tens of thousands of dollars "figure of wealth" from a "Zhenjinbaiyin."
In mid-July this year, 980 U.S. dollars of gold peaked, he 950,930,900 in such key points in short-and the tens of thousands of dollars over several times.
But this time, Yu Yong Yin Yin felt that with the past, have a very different. From the refrigerator out a bottle of mineral water, the water Qinglie let him feel a lot of clear-headed.
At 3:16 on August 12
825 U.S. dollars
Yeshenrenjing, but no Shui Yi-yong.
One and a half hours before the gold price fell below 820 U.S. dollars juncture, returned to the end of last year when the price of Quotes on the map, the whereabouts of the gold line as a time-sharing a steep cliff, not climbing.
Is not to Jiancang, do more or go short, so he was very hesitant.
Normally, this degree of collapse after the rebound will usher wave, but the facts may not be so simple. Xiang Butong do not want it, in-yong on a notebook computer, go to bed.
August 12
7:31
825 U.S. dollars
Long-term formation of the biological clock, in the wake up on time-yong, the transaction was at this time in Asia has started half an hour.
A few hours short Hanmian, from his early morning attack in the re-emerge, he watched over the movements of foreign exchange plans, pondering the early morning of the dollar index 76.10 points made new high, and the time-sharing online Alice Mei market, hearts There is a first idea of telling myself, the dollar should also not ended, this should be an opportunity.
Open trading system, Jiancang 10 hand-empty, this time he set up in about 830 U.S. dollars in the automatic stop-loss; Xiangliao Xiang, fill more than offset by a single, set up the stop-loss at 811 U.S. dollars.
All personnel, listen to heaven it.
August 12
8:58
812 U.S. dollars
It appears that some mist, the weather was overcast some.
Yu Yong turns heads focused on the disk, gold began a crash, but a very sharp decline, has 20 minutes or 10 dollars a month ago, the scenery of unlimited gold has now been abandoned if Bixi, why the tragic losses to one day Diechuan integral multiple checkpoints within the state.
What is this rapidly changing market »
U.S. signs of economic improvement »or by the oil price bubble burst in the impact of« because of the geopolitical short-term stabilization »or because the United States to invest in commodity futures fund restrictions»
Yu Yong contrast with crude oil prices, dollar index of the market trend seems to understand the root causes of the collapse of gold lies, "all dollars are making the problem."
The dollar index from the 2001 high of 121.02 points started to decline, inflation Voice prevalent, the fight against inflation as the most powerful weapon, gold has also been sought after, a large number of financial hedging needs, so that gold becomes more "valuable".
However, from July, the dollar index has reached five months of the highest points, 76 points back at the top. The foreign exchange market, the euro zone economic growth slow-down trend, although the U.S. economy remains weak, the market is relatively optimistic about the economic prospects of the atmosphere, the dollar gained sufficient momentum in this process, pre-hedging demand for goods due to the formation of Bubble being squeezed out, the depth adjustment will be the embodiment of this process.
Think of here, in their consciousness-yong some regret too late, "should do more for a single empty hands."
August 12
9:13
801 U.S. dollars
"801 U.S. dollars!" Is drinking water in the straight-yong Beiqiang De cough.
The day before is still under discussion whether the 850 U.S. dollars is the key support level, now put 800 U.S. dollars to break the barrier? »
Browse the website of the Financial Information, in particular, the recent U.S. data, although the dollar is very strong, but the U.S. economy there are still many uncertain factors, the decline so radical, fast, he feels the market, clearly made a mistake, Yu Yong excited, he felt that any case can not let this good opportunity.
801.9 U.S. dollars will be 10 hand positions, after deducting the five hands of hedge losses, the deal he Zhuanhui the 15,000 U.S. dollars, make up their own little small hours of the loss, the mood was excellent in-yong 803.60 U.S. dollars Jiancang more than 18 single-hand.
This time, several of the netizens to speculation he has asked twice last night and this morning's crash, he seemed to be their new sentiment shared out.
August 12
14:50
812 U.S. dollars
Afternoon nap to restore energy, the tired yesterday Aoye swept away empty.
Yu Yong read again to see the spot gold market, for their morning he was glad that the decision-making, at the moment gold rose to the 812 U.S. dollars, from 803 U.S. dollars at the morning Jiancang has been higher than nine U.S. dollars, roughly Suansuan book has more 10,000 U.S. dollars.
Taiyan days to see the sun in the clouds a half-exposed in the face, the temperature does not feel hot, is out this afternoon - when he had about a potential investors.
August 12
22:01
818 U.S. dollars
Yu Yong at home will see gold prices, rose Xialou going to the living room. Gold was once just to return to the top 820 U.S. dollars, 818 U.S. dollars at this time in the vicinity of oscillation, in the 18-yong multi-hand book proceeds have been nearly 27,000 U.S. dollars. Although the addition of 15,000 U.S. dollars before gains, still not make up for the end before more than 55,000 U.S. dollars loss, but he confirmed that the dollar index in the short-term high Heng Pan, a bargaining chip in their Jiancang adequate security.
This evening he decided to miss the best for viewing the Olympic competition.
2008-08-18
Beijing gold fell 215 yuan trigger "Chaodi" of panic buying
The stock market in the "Black Monday" staged today in the gold stores. Today, early in the morning, the Chinese gold showed a new premium flagship store: 1000 24K jewelry per gram from 236 yuan to 230 yuan, 24K jewelry from 225 yuan per gram raised to 215 yuan. 24K per gram prices as high as 10 yuan!
The impact of international financial markets, the sharp decline in domestic gold. From the beginning of last week, Beijing cuisine 100, the United States, Guo-hua, such as in the major gold retail market began to you than I to the price cuts. China and China on its shopping malls cut three times. As of today, China's flagship store in 24K gold price Quanchengzuidi, vegetables and the United States and 100 are 218 yuan / g, the Huawei 216 yuan / gram. And high when compared to the dishes Baizu per gram total down 17 yuan.
According to reports, nearly a week of international gold futures fell by 8.4 percent to a 25 to the largest weekly decline. Last Friday had dropped to a low of 777.7 U.S. dollars an ounce and eventually closed at 792.1 U.S. dollars, and March 17 of this year's all-time high of 1033.9 U.S. dollars, has dropped by 241.8 U.S. dollars, or 23.39 percent. February 1983 is the largest weekly decline.
However, the gold all the way down triggered a "Chaodi" of panic buying. Investment in the gold bullion market during the Spring Festival as popular as the panic buying climax. Many people in shopping malls gold bars from the long front counter team, and even 10 grams, 20 grams of "small gold bars" are also panic buying at all. Major buyers that the current price is relatively low, investment in gold is the best time. It is understood that only the Guohua shopping malls daily sales of gold bullion investment reached 30 kg, Jinliang Tian is a day by the public "buy" more than 70 kilograms of gold bars. Guohua shopping malls in charge of operations, said: "last Friday afternoon, had more than 10 species of gold bullion only 45 species, only emergency transportation counters filled."
The impact of international financial markets, the sharp decline in domestic gold. From the beginning of last week, Beijing cuisine 100, the United States, Guo-hua, such as in the major gold retail market began to you than I to the price cuts. China and China on its shopping malls cut three times. As of today, China's flagship store in 24K gold price Quanchengzuidi, vegetables and the United States and 100 are 218 yuan / g, the Huawei 216 yuan / gram. And high when compared to the dishes Baizu per gram total down 17 yuan.
According to reports, nearly a week of international gold futures fell by 8.4 percent to a 25 to the largest weekly decline. Last Friday had dropped to a low of 777.7 U.S. dollars an ounce and eventually closed at 792.1 U.S. dollars, and March 17 of this year's all-time high of 1033.9 U.S. dollars, has dropped by 241.8 U.S. dollars, or 23.39 percent. February 1983 is the largest weekly decline.
However, the gold all the way down triggered a "Chaodi" of panic buying. Investment in the gold bullion market during the Spring Festival as popular as the panic buying climax. Many people in shopping malls gold bars from the long front counter team, and even 10 grams, 20 grams of "small gold bars" are also panic buying at all. Major buyers that the current price is relatively low, investment in gold is the best time. It is understood that only the Guohua shopping malls daily sales of gold bullion investment reached 30 kg, Jinliang Tian is a day by the public "buy" more than 70 kilograms of gold bars. Guohua shopping malls in charge of operations, said: "last Friday afternoon, had more than 10 species of gold bullion only 45 species, only emergency transportation counters filled."
2008-08-16
Gold a year low of diving
By the strong rebound in the dollar index the impact of yesterday's diving gold. Gold fell overnight Lun 33.52 U.S. dollars to close at 823.58 U.S. dollars / oz, overnight in New York gold futures fell 4.2 percent, or 36.50 U.S. dollars, to close at 830 U.S. dollars / ounce to 828.30 U.S. dollars following / oz, a new low this year.
At the same time, the international spot gold prices sharply lower, as of press time, the international spot price for 811 U.S. dollars / oz. China, the Shanghai Gold futures contract yesterday to 812 main Dieting is also a new low price of 182.82 yuan / g Open, fell 9.63 yuan, all other contracts a day shut Dieting, a gold futures market in the largest single-day decline and the lowest .
Analysis of the market, because gold has fallen below a key support level, the dollar is still strong, and gold sales season has not yet arrived, the recent gold may continue to fall, testing 800 U.S. dollars juncture.
A stronger dollar triggered diving gold
Recently, the U.S. dollar index very active, the dollar index rose last week to four months to the highest level, the euro hit 1.4880 against the dollar below the six month low. European Central Bank Tuesday said that the European economic slowdown faster than expected, Europe's weak trend may continue into the next few quarters. By the recent weakness in the euro zone economic pressure, the euro continued to weaken, investors worried about the continued deterioration of the euro zone economy, promote the strength of the U.S. dollar up, gold plunged into one of the main factors. At the same time, international crude oil futures prices since July 3 record 145.29 U.S. dollars / barrel the highest settlement price since dropped all the way, the stronger dollar and crude oil prices keep falling international gold makes the decline in domestic gold also fell below affected by this history Low, setting a new low this year.
In addition, the National Bureau of Statistics announced that CPI index in July rose 6.3 percent last year, the CPI in July dropped significantly, inflation is expected to slow down. Analysts believe that the CPI index for the gold and are related to the consumer price index and the decline in international commodity futures dropped sharply on the domestic gold to a certain pressure.
In addition, the Russian and Georgian military conflict has driven gold's attractiveness as an investment hedge, geopolitical tensions become one of the factors supporting gold.
At the same time, international other precious metals also drag down the gold, silver and palladium fell 4.31 percent and 3.16 percent. Fund-listed gold ETF with the volume also declined, the world's largest ETF fund with the amount has been reduced to below 9 million ounces.
800 U.S. dollars precarious juncture
As investors in the European economy is increasingly worried about the deterioration of sentiment, the U.S. dollar index rebounded sharply recently. Analysts said the gold market fear, with the prices did not stabilize signs, the recent trend is likely to remain weak. Gold quickly fell below support at 850 U.S. dollars, short to be popular Zhu Zhang, Europe and the United States time to test the 800 U.S. dollars juncture.
Green Futures analyst Shu-feng that the downward price trend has reversed, and the economic data released this week positive for the dollar, the dollar index this week is expected to reach 77 points, with New York gold short approach, gold may not take a firm 800 Dollar mark, gold is near 786 U.S. dollars since August 2007 to start up the highest point for 60 percent retracement, the gold may have some support. If below the point position, lowered gold only 700 U.S. dollars. The domestic gold Wednesday will seek to 180 yuan-rounded support. Operation, proposed a single-space, short-term goals-for 178 yuan, or 790 to 800 U.S. dollars in the corresponding international gold.
Source:金羊网-新快报Author: Zhang Yi
At the same time, the international spot gold prices sharply lower, as of press time, the international spot price for 811 U.S. dollars / oz. China, the Shanghai Gold futures contract yesterday to 812 main Dieting is also a new low price of 182.82 yuan / g Open, fell 9.63 yuan, all other contracts a day shut Dieting, a gold futures market in the largest single-day decline and the lowest .
Analysis of the market, because gold has fallen below a key support level, the dollar is still strong, and gold sales season has not yet arrived, the recent gold may continue to fall, testing 800 U.S. dollars juncture.
A stronger dollar triggered diving gold
Recently, the U.S. dollar index very active, the dollar index rose last week to four months to the highest level, the euro hit 1.4880 against the dollar below the six month low. European Central Bank Tuesday said that the European economic slowdown faster than expected, Europe's weak trend may continue into the next few quarters. By the recent weakness in the euro zone economic pressure, the euro continued to weaken, investors worried about the continued deterioration of the euro zone economy, promote the strength of the U.S. dollar up, gold plunged into one of the main factors. At the same time, international crude oil futures prices since July 3 record 145.29 U.S. dollars / barrel the highest settlement price since dropped all the way, the stronger dollar and crude oil prices keep falling international gold makes the decline in domestic gold also fell below affected by this history Low, setting a new low this year.
In addition, the National Bureau of Statistics announced that CPI index in July rose 6.3 percent last year, the CPI in July dropped significantly, inflation is expected to slow down. Analysts believe that the CPI index for the gold and are related to the consumer price index and the decline in international commodity futures dropped sharply on the domestic gold to a certain pressure.
In addition, the Russian and Georgian military conflict has driven gold's attractiveness as an investment hedge, geopolitical tensions become one of the factors supporting gold.
At the same time, international other precious metals also drag down the gold, silver and palladium fell 4.31 percent and 3.16 percent. Fund-listed gold ETF with the volume also declined, the world's largest ETF fund with the amount has been reduced to below 9 million ounces.
800 U.S. dollars precarious juncture
As investors in the European economy is increasingly worried about the deterioration of sentiment, the U.S. dollar index rebounded sharply recently. Analysts said the gold market fear, with the prices did not stabilize signs, the recent trend is likely to remain weak. Gold quickly fell below support at 850 U.S. dollars, short to be popular Zhu Zhang, Europe and the United States time to test the 800 U.S. dollars juncture.
Green Futures analyst Shu-feng that the downward price trend has reversed, and the economic data released this week positive for the dollar, the dollar index this week is expected to reach 77 points, with New York gold short approach, gold may not take a firm 800 Dollar mark, gold is near 786 U.S. dollars since August 2007 to start up the highest point for 60 percent retracement, the gold may have some support. If below the point position, lowered gold only 700 U.S. dollars. The domestic gold Wednesday will seek to 180 yuan-rounded support. Operation, proposed a single-space, short-term goals-for 178 yuan, or 790 to 800 U.S. dollars in the corresponding international gold.
Source:金羊网-新快报Author: Zhang Yi
Beijing lower international gold price all the way down the four ministry
Source: Jinghua Shibao
Yesterday, Beijing's main gold jewelry sales of food establishments 100 shopping centres, the U.S. buildings, shopping malls are Guohong cut the price of gold jewelry, after adjustment, the market price of 24K to 230 yuan / g around 1000 24K price is reduced to 242 yuan / gram. It is understood that this is Beijing in April since the first gold prices down.
100 dishes and the prices to the United States agreed, will be 24K from the original 235 yuan / gram to 230 yuan / g, 1000 24K from 248 yuan / gram to 242 yuan / g; Guohua shopping centres in price from 24K 230 yuan / gram to 228 yuan / g, 1000 24K from 247 yuan / g reduced to 242 yuan / gram. Despite the drop different, but after the price drop is very close.
Chief of the tripod in the note-issuing gold analyst ZHU Tong believes that the way the international price of gold is lower retail prices to reduce the main reason.
Another industry that is currently around 860 U.S. dollars an ounce of gold has been close to the international "bottom", may be half a month of gold jewelry prices will also increase the pressure there. (Ancient Xiaoyu)
Yesterday, Beijing's main gold jewelry sales of food establishments 100 shopping centres, the U.S. buildings, shopping malls are Guohong cut the price of gold jewelry, after adjustment, the market price of 24K to 230 yuan / g around 1000 24K price is reduced to 242 yuan / gram. It is understood that this is Beijing in April since the first gold prices down.
100 dishes and the prices to the United States agreed, will be 24K from the original 235 yuan / gram to 230 yuan / g, 1000 24K from 248 yuan / gram to 242 yuan / g; Guohua shopping centres in price from 24K 230 yuan / gram to 228 yuan / g, 1000 24K from 247 yuan / g reduced to 242 yuan / gram. Despite the drop different, but after the price drop is very close.
Chief of the tripod in the note-issuing gold analyst ZHU Tong believes that the way the international price of gold is lower retail prices to reduce the main reason.
Another industry that is currently around 860 U.S. dollars an ounce of gold has been close to the international "bottom", may be half a month of gold jewelry prices will also increase the pressure there. (Ancient Xiaoyu)
Gold fell 60 U.S. dollars on the 1st of investors say enough stock or six months
China Network
International spot gold yesterday morning year minimum
On the 1st plummeted 60 U.S. dollars
Gold leverage to do a two-day loss of 70 percent of investors say enough stock or six months
QQ, the other-a "sweating" from the facial expression.
"Can only be described as a tragic, which is on the 2nd plummeted since the'1032 '(March 19, 2008 to March 20) since the' most spectacular 'down - the fastest, the dollar declined the most.
"QQ the other end, far away in the high Purcell Chengdu Research Center analyst FANG Jing told reporters.
No wonder so touching FANG Jing, the international spot gold in less than 24 hours plummeted more than 60 U.S. dollars - from the end of Asian trading hours Tuesday's 864 U.S. dollars / ounce Wednesday morning to the Asia-801.90 U.S. dollars / oz, the gold market, such as shorts "So Autumn leaves" as the Commissioner of Lian Po, down nearly 62.1 U.S. dollars, or 7.19 percent.
801.90 U.S. dollars / oz, the international spot gold in the lowest point in years. Such "diving" market, it is rare.
International spot gold fell, some people cried some laughter. This year, do people apply the paper gold, gold leverage to do even worse and more people, and some people flew in low buy physical gold or gold.
The people of
Paper gold apply to the pain
Fan home in Gulou operating coin collection of Wang Jun is a lucky investors. These two days, he has been fortunate, "Fortunately, not greed, ah, slightly earned a point on the immediate dismantling."
By the end of June, Wang Jun launched Internet banking, the bank bought the personal accounts of the (commonly known as "paper gold", the only gold in the book reflect the changes do not involve physical delivery). At that time, the bank sold at that price for investors to buy 204 yuan / Ke, Wang Jun bought 1,000 grams. Subsequently, the International Spot gold rose driven the price of the individual accounts, July 21, in the personal account of the price reached 211 yuan / grams of time, Wang Jun dished out the accounts of 1,000 grams, easily earned 7,000 yuan.
Chushe the city of Wang Jun hear it several times he has followed the impulse to buy, none of the Renzhu. "Mainly to see oil prices drop in the dollar rebound, I am afraid there are big ups and downs of international gold, not Ganzai start. Think about now is really lucky ah!"
Bank paper gold prices in international spot gold with a walk, this time the international spot gold dropped to the beginning of the year investment in paper gold investors, a full apply.
Apply in person, the worst recovery in the high-investors, Fang Li is one of them, he set the international gold highest point 1,032 U.S. dollars / ounce after into the field. Humorous when he answered a reporter's question, shouting out the "Tonga!."
International spot gold yesterday morning year minimum
On the 1st plummeted 60 U.S. dollars
Gold leverage to do a two-day loss of 70 percent of investors say enough stock or six months
QQ, the other-a "sweating" from the facial expression.
"Can only be described as a tragic, which is on the 2nd plummeted since the'1032 '(March 19, 2008 to March 20) since the' most spectacular 'down - the fastest, the dollar declined the most.
"QQ the other end, far away in the high Purcell Chengdu Research Center analyst FANG Jing told reporters.
No wonder so touching FANG Jing, the international spot gold in less than 24 hours plummeted more than 60 U.S. dollars - from the end of Asian trading hours Tuesday's 864 U.S. dollars / ounce Wednesday morning to the Asia-801.90 U.S. dollars / oz, the gold market, such as shorts "So Autumn leaves" as the Commissioner of Lian Po, down nearly 62.1 U.S. dollars, or 7.19 percent.
801.90 U.S. dollars / oz, the international spot gold in the lowest point in years. Such "diving" market, it is rare.
International spot gold fell, some people cried some laughter. This year, do people apply the paper gold, gold leverage to do even worse and more people, and some people flew in low buy physical gold or gold.
The people of
Paper gold apply to the pain
Fan home in Gulou operating coin collection of Wang Jun is a lucky investors. These two days, he has been fortunate, "Fortunately, not greed, ah, slightly earned a point on the immediate dismantling."
By the end of June, Wang Jun launched Internet banking, the bank bought the personal accounts of the (commonly known as "paper gold", the only gold in the book reflect the changes do not involve physical delivery). At that time, the bank sold at that price for investors to buy 204 yuan / Ke, Wang Jun bought 1,000 grams. Subsequently, the International Spot gold rose driven the price of the individual accounts, July 21, in the personal account of the price reached 211 yuan / grams of time, Wang Jun dished out the accounts of 1,000 grams, easily earned 7,000 yuan.
Chushe the city of Wang Jun hear it several times he has followed the impulse to buy, none of the Renzhu. "Mainly to see oil prices drop in the dollar rebound, I am afraid there are big ups and downs of international gold, not Ganzai start. Think about now is really lucky ah!"
Bank paper gold prices in international spot gold with a walk, this time the international spot gold dropped to the beginning of the year investment in paper gold investors, a full apply.
Apply in person, the worst recovery in the high-investors, Fang Li is one of them, he set the international gold highest point 1,032 U.S. dollars / ounce after into the field. Humorous when he answered a reporter's question, shouting out the "Tonga!."
2008-07-31
The first gold ETF only the first day of turnover 150 million Hong Kong dollar
Yesterday, the first gold exchange traded fund only the SPDR ETF (02840, HK) listed on the HKEx. The stock yesterday the Hong Kong dollar opened at 700.50, after opening up repeatedly, the Hong Kong dollar and 700.50 to 706.50 fluctuations between the Hong Kong dollar, the Hong Kong dollar on the day was at 705, with 20.854 million shares, the transaction volume of 1.5 billion Hong Kong dollars.
It is understood, SPDR ETF each of the 10 stocks in hand, only the main track is the first international gold spot price of gold Exchange Traded Funds. Each of the securities will receive the corresponding physical gold that this gold to keep this body for the equity holders and storage.
Only the first gold ETF only to Hong Kong investors bet the price of gold more direct way. Whether direct investment in gold bulls or value investors, through investment in gold ETF to avoid inflation.
Source: Daily Economic News
It is understood, SPDR ETF each of the 10 stocks in hand, only the main track is the first international gold spot price of gold Exchange Traded Funds. Each of the securities will receive the corresponding physical gold that this gold to keep this body for the equity holders and storage.
Only the first gold ETF only to Hong Kong investors bet the price of gold more direct way. Whether direct investment in gold bulls or value investors, through investment in gold ETF to avoid inflation.
Source: Daily Economic News
Hong Kong Securities and Futures Commission approved the first track only the price of gold Exchange Traded Fund
Hong Kong SFC has authorized only the first track gold price of the Exchange Traded Fund (ETF) listed on the Stock Exchange of Hong Kong.
A gold ETF is to hold physical gold as its only assets related to the passive investment instruments, to provide investors with a need for physical gold settlement and can participate in the gold market summary investment channels.
Hong Kong SFC Miss Zhang Zhuohua, said: "Investor interest in the commodity markets increasing, we and the industry has cooperated very closely, so that the different commodity-related products in Hong Kong to become available in the market."
Zhang Zhuo, added: "Promoting the development of a broad range of products is the focus of work of the SFC. Hong Kong launched its first retail only gold ETF, and we are happy." (Chiang)
Source: China Securities News
A gold ETF is to hold physical gold as its only assets related to the passive investment instruments, to provide investors with a need for physical gold settlement and can participate in the gold market summary investment channels.
Hong Kong SFC Miss Zhang Zhuohua, said: "Investor interest in the commodity markets increasing, we and the industry has cooperated very closely, so that the different commodity-related products in Hong Kong to become available in the market."
Zhang Zhuo, added: "Promoting the development of a broad range of products is the focus of work of the SFC. Hong Kong launched its first retail only gold ETF, and we are happy." (Chiang)
Source: China Securities News
2008-07-30
Gold consecutive starts by suppressing the gold market "to defend the long war"
Source: New People's Daily
Last Monday, the gold price shocks high of 979 U.S. dollars after the failed "high platform diving", after the decline, falling as low as 915 U.S. dollars, the current stable in the vicinity of 929 U.S. dollars. Fed officials pay close attention to the problem of inflation, short-term U.S. economic data turn for the better, the international oil prices fall, gold prices are declining triggered an important reason.
Earlier this week, U.S. Treasury Secretary Paulson reiterated that "strong dollar" policy, the Philadelphia Federal Reserve Bank president also delivered a Puluo Se will speed up the rate hikes to curb inflation remarks. Officials of the hard-line speech boosted the dollar, suppressing the price of oil, curbing gold's gains.
Second, the United States issued a series of economic data to consolidate the status of the dollar also hurt gold prices. For example, in terms of investment, the U.S. June durable goods orders increased by 0.8 percent, since last December, the biggest increase consumption, the United States in July the University of Michigan's final consumer confidence index reached 61.2, 6 than the end of a substantial increase in value of 56.4 ; Real estate market, new home sales in June to 530,000, higher than the forecast of 500,000 new home sales.
In addition, the U.S. government started to pay attention to issues of oil speculation, such as the drafting of bills related to the U.S. Congress, inhibit investors and speculators in the New York Mercantile Exchange energy futures market, and with Britain and other regulatory agencies in the fight against international energy futures market The wave of speculation. This very short period of time, oil prices from a high of 147 U.S. dollars fallen sharply. Oil prices fall, triggered the related investment in the commodity markets at low tide, the price of gold down the reasonable.
From graphics, the gold from New York was started Tuesday by the continuous pressure, just a few trading days will be below the 955 U.S. dollars, 943 U.S. dollars, 933 U.S. dollars several important support level. Currently, gold once again came to the 120-day MA near, I believe that in this location will be started "to defend the multi-war", and resolutely safeguard the dignity of longs. Technically, gold has been the rise from approaching the next track, and also by the week since the end of March since the formation of the support of the double bottom neckline, short-term, a strong rebound in demand. From the week online, last week's Yinxian can be seen as the neckline of a Huichou confirmed, the next two weeks compared certainty is that gold remains strong shocks inevitable, but as long as gold is no longer Further record lows, then the gold rally will not end. Recommended investors in the 916 to 920 U.S. dollars regional firm to do more, short-term goals-against 940 U.S. dollars. (Zhang ICBC Shanghai Branch)
Last Monday, the gold price shocks high of 979 U.S. dollars after the failed "high platform diving", after the decline, falling as low as 915 U.S. dollars, the current stable in the vicinity of 929 U.S. dollars. Fed officials pay close attention to the problem of inflation, short-term U.S. economic data turn for the better, the international oil prices fall, gold prices are declining triggered an important reason.
Earlier this week, U.S. Treasury Secretary Paulson reiterated that "strong dollar" policy, the Philadelphia Federal Reserve Bank president also delivered a Puluo Se will speed up the rate hikes to curb inflation remarks. Officials of the hard-line speech boosted the dollar, suppressing the price of oil, curbing gold's gains.
Second, the United States issued a series of economic data to consolidate the status of the dollar also hurt gold prices. For example, in terms of investment, the U.S. June durable goods orders increased by 0.8 percent, since last December, the biggest increase consumption, the United States in July the University of Michigan's final consumer confidence index reached 61.2, 6 than the end of a substantial increase in value of 56.4 ; Real estate market, new home sales in June to 530,000, higher than the forecast of 500,000 new home sales.
In addition, the U.S. government started to pay attention to issues of oil speculation, such as the drafting of bills related to the U.S. Congress, inhibit investors and speculators in the New York Mercantile Exchange energy futures market, and with Britain and other regulatory agencies in the fight against international energy futures market The wave of speculation. This very short period of time, oil prices from a high of 147 U.S. dollars fallen sharply. Oil prices fall, triggered the related investment in the commodity markets at low tide, the price of gold down the reasonable.
From graphics, the gold from New York was started Tuesday by the continuous pressure, just a few trading days will be below the 955 U.S. dollars, 943 U.S. dollars, 933 U.S. dollars several important support level. Currently, gold once again came to the 120-day MA near, I believe that in this location will be started "to defend the multi-war", and resolutely safeguard the dignity of longs. Technically, gold has been the rise from approaching the next track, and also by the week since the end of March since the formation of the support of the double bottom neckline, short-term, a strong rebound in demand. From the week online, last week's Yinxian can be seen as the neckline of a Huichou confirmed, the next two weeks compared certainty is that gold remains strong shocks inevitable, but as long as gold is no longer Further record lows, then the gold rally will not end. Recommended investors in the 916 to 920 U.S. dollars regional firm to do more, short-term goals-against 940 U.S. dollars. (Zhang ICBC Shanghai Branch)
2008-07-29
Bulk commodities this week was "Storm" international gold price nearly 60 U.S. dollars
International gold
Up to a week or nearly 60 U.S. dollars
Friday Chaodie rebounded to 930 U.S. dollars / oz location
Week, the international gold and the U.S. dollar significantly stronger heavy oil prices fell sharply under the influence of weakness, from nearly 980 U.S. dollars / oz position dropped to 920 U.S. dollars / oz. Friday Chaodie rebounded to 930 U.S. dollars / oz location. The domestic gold from the high-profile diving turn stabilize, Friday Spot gold rose to 204 yuan / grams of the above position, the Suoliang futures rose to 205 yuan / grams of the above position, investors cautious attitude. Guangzhou week price changes in gold coins weak.
On the strong dollar against gold
Federal Reserve Chairman week in a speech that had led the international gold of the main reasons for weakness. Its strong dollar makes dollar out of the recent argument has been significantly strengthened the Huiqi, brought great pressure on gold. Over the same period by the high international crude oil prices dropped heavy, as low as 120 U.S. dollars juncture, Lianlei speculative buying of gold to sell their gold. Experts believe that Fed Chairman's speech of far-reaching significance, and may in the long-term bearish on gold, the second half of the gold bull market may be delayed arrival.
However, short-term, gold Pijitailai time Friday, the U.S. dollar index on the 24th night in the U.S. labour market and the impact of weak housing market data, the dollar profit taking, closing 72.85, the lowest reached 72.60, while crude oil rebounded sharply on the 24th, the United States Economic data weighed on the evening of dollars profitable oil and oil closed end at 125 U.S. dollars / barrel at the top, the highest reached 126.51 U.S. dollars / barrel, gold will bring to promote.
Important for good information, data, oil refineries postponed due to high prices of purchased crude oil, U.S. crude oil supply in the past 10 weeks have dropped eight weeks, again aroused the trading of crude oil interest. The top military commander said Israel, the Israeli army sent Iran may be necessary to stop Iran's nuclear research facilities, this is also good news oil prices, from low to support gold.
Technical support surface rebound
, K Line, the former gold yesterday fell after the two-day show support rally, gold up the strength of the current larger; MACD indicators 0 axis side, a banner consolidation, Hong Zhu slightly expanded, kinetic energy on the long - Forces on the rise; four hours, mainly by the pressure on the 20th MA, the energy market in the long rebound, MACD, significantly expanding the market bullish momentum, RSI consolidation in the vicinity of 40, gained the support, from hour to map , The location of the five-day MA Duokong trial of strength between the two sides, long power on the rise, from MACD, the oscillation in the high, short of kinetic energy increases, RSI is near 60, longs force has expanded. (Well-nan)
International oil prices
Technical rebound back on 125 U.S. dollars
Compared with the highest level has fallen 15%
By a technical rebound, and other factors, on the 24th New York Mercantile Exchange, September delivery crude oil futures prices rose to close at 125 U.S. dollars per barrel at the top.
On the New York Mercantile Exchange, the September delivery of light sweet crude per barrel from the previous trading day up 1.05 U.S. dollars to close at 125.49 U.S. dollars. Earlier in the day, the futures contract hit a low of 123.50 U.S. dollars. London's International Petroleum Exchange, September Brent crude-oil futures rose 1.15 U.S. dollars a barrel to close at 126.44 U.S. dollars.
In addition, the New York Mercantile Exchange, September delivery price per gallon gasoline futures rose 2.5 cents to settle at 3.0594 U.S. dollars. September delivery of heating oil futures price per gallon rose 1.7 cents to settle at 3.5671 U.S. dollars. August delivery of natural gas futures prices per 1,000 cubic feet (1 cubic metre approximately 35 cubic feet) fell 46.5 cents to 9.283 U.S. dollars.
Market participants said that rising oil prices is the day the last few days oil prices fell sharply after a technical rebound. On the 11th of this month and set a high of more than 147 U.S. dollars compared with New York crude oil prices have now fallen by 15 percent.
In addition, market participants pointed out that U.S. gas prices also fell, reflecting the weak U.S. economy has had an impact on oil demand, making oil prices fell.
Basic metals
Luntong below 8,000 U.S. dollars mark
Analysts said the bottom to look at 5,500 U.S. dollars
Recently, the futures market investors have been sighted in the high-profile diving international oil prices plummeted and follow the agricultural futures attracted by the basic metals market performance is equally stunning in crude oil and agricultural prices fell sharply at the same time, the most important basic metals -- -- Copper also high since the initial drop down more than 9 percent. Yesterday the London Metal March copper on the market is below the 8,000 U.S. dollars mark. Analysts believe that the future prices may continue in 2006, 2007, "early rise, down the end of" the movement of a wave of the second half of the medium-term adjustment, the adjusted low of daring to look at 5,500 U.S. dollars.
Extreme weakness in consumer production increased significantly
Metal prices on the most sensitive macroeconomic trends, in fact only recently copper and aluminum also remain high, while the rest of the metal has long been the first to enter the "bear market" pattern. Since last week, the deterioration of the U.S. economy to the international oil prices and futures prices of agricultural products have high platform diving, this copper and aluminum are not exception. Copper extensive pre-market speculation of the South American copper mine workers strike has been caused by supply worries evaporated, replaced by the extreme weakness of consumer concerns. March copper in London Thursday from the previous day's closing price of 8,080 U.S. dollars Bao Diezhi 7,900 U.S. dollars, the first time below 8,000 U.S. dollars mark. The domestic copper futures Thursday and Friday for crash two days, the cumulative decline in more than 1,000 yuan / ton.
China, as the world's largest copper consumer demand this year has been reduced very significantly. According to Chinese customs statistics, China's imports of copper and copper forging consecutive month decline, while domestic important copper industry - air-conditioning industry sales severe abnormal situation, the Chinese air-conditioning sales in May fell 32 percent year-on-year , Setting the past six years, the largest monthly decline.
At the same time the weak domestic consumption of copper production has increased. According to the International Bureau of Statistics data, the first six months of this year, China's copper production totalled 3.7441 million tons, an increase of 18.1 percent.
Aluminum adjustment may be limited
Analysts believe that in the current economic situation of uncertainty and weakness in consumer extreme circumstances, the prices have continued to decline, particularly in Luntong Thursday fell below 8,000 U.S. dollars / ton after more investors to open a decrease in space. Great Wall Albert CHAN business department deputy general manager of Shanghai Futures Jingchuang said: "From a technical graphics perspective, in 2006, in 2007 two years have emerged early sharp rise in the high oscillation, the end of the trend of sharp decline. From the past six months Trend, this year may continue to maintain this trend. If so, future prices will start mid-level adjustment, it is estimated that the adjustment will not be lower than the low of 2006 adjusted low - 5,500 U.S. dollars. "
As for the trend of other metals, analysts are also bearish. Futures senior analyst with Jiangnan pay the Riverside, said: "Apart from copper and aluminum, other non-ferrous metals has entered a bear market in advance. Metals lead although the recent wave of a modest rebound, but the graphics technology has already emerged on a huge 'head-and-shoulder top ', The current rally did not break through the' neckline ', is still not optimistic about the future trend. And a better future might be aluminum, aluminum smelter due to energy consumption, in power under the constraints may be forced to production and therefore the future The adjustment may be limited, at 18,000 yuan / ton near support. "
Agricultural products
Corn futures decline too much at present no clear direction
Chicago soybean futures continue to fall
On the 24th Chicago Board of Trade soybean futures continued to fall, the November contract fell 11 cents to close at 13.73 U.S. dollars per bushel.
Analysts said the day was mainly a technical sell-off led to soybean futures lower. Corn futures decline as much, in the absence of clear direction of the circumstances, corn and soybean commodity arbitrage between the inter-down of the soybean prices. Although there is not much change in fundamentals, but the market remains fragile.
The U.S. Department of Agriculture announced on the 24th week of the latest agricultural export sales report showed that U.S. soybean export sales fairly robust. As of July 17 the week, the United States this year's soybean "old crop" export sales of 183,000 tons, more than 2.9 times the previous week; 2008/2009 annual "new crop" export sales of 552,400 tons. (According to Xinhua News Agency)
Forecast for next week
Dollar exchange rate is still the core fundamentals next week, the Fed speeches this week will be next week's U.S. economic data to prove, such as to the good economic data, the general trend of dollar strength to establish the center line, the gold bull market will slow down the center line. However, if faced weak economic data, while gold future will continue to improve, continue to short-term shocks, the central line of bull market quietly approaching. Is still facing two-way choice.
Operation of the proposed
Guangdong gold company Hai-Tao Yang believes that the current trend of consolidation has begun, the dispersal of the band has long proposed to continue the wait-and-see, do not easily Chaodi. Sound investors wait-and-see proposal. Radical investors in the 940 to 920 U.S. dollars / oz range from the operation, but it is necessary to strictly stop-loss. Investors may be short-term rebound after Fenggao short, stop-loss at 954 U.S. dollars in / near an ounce.
Up to a week or nearly 60 U.S. dollars
Friday Chaodie rebounded to 930 U.S. dollars / oz location
Week, the international gold and the U.S. dollar significantly stronger heavy oil prices fell sharply under the influence of weakness, from nearly 980 U.S. dollars / oz position dropped to 920 U.S. dollars / oz. Friday Chaodie rebounded to 930 U.S. dollars / oz location. The domestic gold from the high-profile diving turn stabilize, Friday Spot gold rose to 204 yuan / grams of the above position, the Suoliang futures rose to 205 yuan / grams of the above position, investors cautious attitude. Guangzhou week price changes in gold coins weak.
On the strong dollar against gold
Federal Reserve Chairman week in a speech that had led the international gold of the main reasons for weakness. Its strong dollar makes dollar out of the recent argument has been significantly strengthened the Huiqi, brought great pressure on gold. Over the same period by the high international crude oil prices dropped heavy, as low as 120 U.S. dollars juncture, Lianlei speculative buying of gold to sell their gold. Experts believe that Fed Chairman's speech of far-reaching significance, and may in the long-term bearish on gold, the second half of the gold bull market may be delayed arrival.
However, short-term, gold Pijitailai time Friday, the U.S. dollar index on the 24th night in the U.S. labour market and the impact of weak housing market data, the dollar profit taking, closing 72.85, the lowest reached 72.60, while crude oil rebounded sharply on the 24th, the United States Economic data weighed on the evening of dollars profitable oil and oil closed end at 125 U.S. dollars / barrel at the top, the highest reached 126.51 U.S. dollars / barrel, gold will bring to promote.
Important for good information, data, oil refineries postponed due to high prices of purchased crude oil, U.S. crude oil supply in the past 10 weeks have dropped eight weeks, again aroused the trading of crude oil interest. The top military commander said Israel, the Israeli army sent Iran may be necessary to stop Iran's nuclear research facilities, this is also good news oil prices, from low to support gold.
Technical support surface rebound
, K Line, the former gold yesterday fell after the two-day show support rally, gold up the strength of the current larger; MACD indicators 0 axis side, a banner consolidation, Hong Zhu slightly expanded, kinetic energy on the long - Forces on the rise; four hours, mainly by the pressure on the 20th MA, the energy market in the long rebound, MACD, significantly expanding the market bullish momentum, RSI consolidation in the vicinity of 40, gained the support, from hour to map , The location of the five-day MA Duokong trial of strength between the two sides, long power on the rise, from MACD, the oscillation in the high, short of kinetic energy increases, RSI is near 60, longs force has expanded. (Well-nan)
International oil prices
Technical rebound back on 125 U.S. dollars
Compared with the highest level has fallen 15%
By a technical rebound, and other factors, on the 24th New York Mercantile Exchange, September delivery crude oil futures prices rose to close at 125 U.S. dollars per barrel at the top.
On the New York Mercantile Exchange, the September delivery of light sweet crude per barrel from the previous trading day up 1.05 U.S. dollars to close at 125.49 U.S. dollars. Earlier in the day, the futures contract hit a low of 123.50 U.S. dollars. London's International Petroleum Exchange, September Brent crude-oil futures rose 1.15 U.S. dollars a barrel to close at 126.44 U.S. dollars.
In addition, the New York Mercantile Exchange, September delivery price per gallon gasoline futures rose 2.5 cents to settle at 3.0594 U.S. dollars. September delivery of heating oil futures price per gallon rose 1.7 cents to settle at 3.5671 U.S. dollars. August delivery of natural gas futures prices per 1,000 cubic feet (1 cubic metre approximately 35 cubic feet) fell 46.5 cents to 9.283 U.S. dollars.
Market participants said that rising oil prices is the day the last few days oil prices fell sharply after a technical rebound. On the 11th of this month and set a high of more than 147 U.S. dollars compared with New York crude oil prices have now fallen by 15 percent.
In addition, market participants pointed out that U.S. gas prices also fell, reflecting the weak U.S. economy has had an impact on oil demand, making oil prices fell.
Basic metals
Luntong below 8,000 U.S. dollars mark
Analysts said the bottom to look at 5,500 U.S. dollars
Recently, the futures market investors have been sighted in the high-profile diving international oil prices plummeted and follow the agricultural futures attracted by the basic metals market performance is equally stunning in crude oil and agricultural prices fell sharply at the same time, the most important basic metals -- -- Copper also high since the initial drop down more than 9 percent. Yesterday the London Metal March copper on the market is below the 8,000 U.S. dollars mark. Analysts believe that the future prices may continue in 2006, 2007, "early rise, down the end of" the movement of a wave of the second half of the medium-term adjustment, the adjusted low of daring to look at 5,500 U.S. dollars.
Extreme weakness in consumer production increased significantly
Metal prices on the most sensitive macroeconomic trends, in fact only recently copper and aluminum also remain high, while the rest of the metal has long been the first to enter the "bear market" pattern. Since last week, the deterioration of the U.S. economy to the international oil prices and futures prices of agricultural products have high platform diving, this copper and aluminum are not exception. Copper extensive pre-market speculation of the South American copper mine workers strike has been caused by supply worries evaporated, replaced by the extreme weakness of consumer concerns. March copper in London Thursday from the previous day's closing price of 8,080 U.S. dollars Bao Diezhi 7,900 U.S. dollars, the first time below 8,000 U.S. dollars mark. The domestic copper futures Thursday and Friday for crash two days, the cumulative decline in more than 1,000 yuan / ton.
China, as the world's largest copper consumer demand this year has been reduced very significantly. According to Chinese customs statistics, China's imports of copper and copper forging consecutive month decline, while domestic important copper industry - air-conditioning industry sales severe abnormal situation, the Chinese air-conditioning sales in May fell 32 percent year-on-year , Setting the past six years, the largest monthly decline.
At the same time the weak domestic consumption of copper production has increased. According to the International Bureau of Statistics data, the first six months of this year, China's copper production totalled 3.7441 million tons, an increase of 18.1 percent.
Aluminum adjustment may be limited
Analysts believe that in the current economic situation of uncertainty and weakness in consumer extreme circumstances, the prices have continued to decline, particularly in Luntong Thursday fell below 8,000 U.S. dollars / ton after more investors to open a decrease in space. Great Wall Albert CHAN business department deputy general manager of Shanghai Futures Jingchuang said: "From a technical graphics perspective, in 2006, in 2007 two years have emerged early sharp rise in the high oscillation, the end of the trend of sharp decline. From the past six months Trend, this year may continue to maintain this trend. If so, future prices will start mid-level adjustment, it is estimated that the adjustment will not be lower than the low of 2006 adjusted low - 5,500 U.S. dollars. "
As for the trend of other metals, analysts are also bearish. Futures senior analyst with Jiangnan pay the Riverside, said: "Apart from copper and aluminum, other non-ferrous metals has entered a bear market in advance. Metals lead although the recent wave of a modest rebound, but the graphics technology has already emerged on a huge 'head-and-shoulder top ', The current rally did not break through the' neckline ', is still not optimistic about the future trend. And a better future might be aluminum, aluminum smelter due to energy consumption, in power under the constraints may be forced to production and therefore the future The adjustment may be limited, at 18,000 yuan / ton near support. "
Agricultural products
Corn futures decline too much at present no clear direction
Chicago soybean futures continue to fall
On the 24th Chicago Board of Trade soybean futures continued to fall, the November contract fell 11 cents to close at 13.73 U.S. dollars per bushel.
Analysts said the day was mainly a technical sell-off led to soybean futures lower. Corn futures decline as much, in the absence of clear direction of the circumstances, corn and soybean commodity arbitrage between the inter-down of the soybean prices. Although there is not much change in fundamentals, but the market remains fragile.
The U.S. Department of Agriculture announced on the 24th week of the latest agricultural export sales report showed that U.S. soybean export sales fairly robust. As of July 17 the week, the United States this year's soybean "old crop" export sales of 183,000 tons, more than 2.9 times the previous week; 2008/2009 annual "new crop" export sales of 552,400 tons. (According to Xinhua News Agency)
Forecast for next week
Dollar exchange rate is still the core fundamentals next week, the Fed speeches this week will be next week's U.S. economic data to prove, such as to the good economic data, the general trend of dollar strength to establish the center line, the gold bull market will slow down the center line. However, if faced weak economic data, while gold future will continue to improve, continue to short-term shocks, the central line of bull market quietly approaching. Is still facing two-way choice.
Operation of the proposed
Guangdong gold company Hai-Tao Yang believes that the current trend of consolidation has begun, the dispersal of the band has long proposed to continue the wait-and-see, do not easily Chaodi. Sound investors wait-and-see proposal. Radical investors in the 940 to 920 U.S. dollars / oz range from the operation, but it is necessary to strictly stop-loss. Investors may be short-term rebound after Fenggao short, stop-loss at 954 U.S. dollars in / near an ounce.
2008-07-28
Gold prices inside and outside together strong fundamentals continue to support
Last week to undertake a strong rise in international gold momentum, the Shanghai yesterday all rose. Shanghai Futures Exchange main December gold contract closed at 212.22 yuan / gram. From the outside set, gold in the short-term or 950 U.S. dollars / oz about consolidation. The industry believes that the technical correction was a short-term needs, but the market atmosphere warmer, the third quarter of the Abundant trend will not change, gold is expected to challenge pre-high.
The domestic gold futures sharply higher yesterday, Tiaokong rate of 2 percent, one stroke broke the 209 to 212 yuan of the four integral juncture. Shanghai followed a day to maintain the high shocks, the major contracts stabilize in the top 212 yuan, to give great confidence in long, long afternoon buying increased noticeably. Shanghai to close at the end of 0812 was 212.22 yuan, rose last week to settle at 5 4.07 yuan / g, or 1.96 percent, hand positions by 1366.
Fundamentals to promote gold
Shanghai Gold up all its power from the US-gold in last Friday for 950 and 960 U.S. dollars breakthrough juncture. In this round of the gold rally, the market that there are two reasons: First, Iran test-fired missiles on the international gold market hedging demand triggered the second is Earlier reports said the U.S. government is considering to take over Fannie Mae and premises of the United States, the United States, Loan-to-recurrence of the haze crisis, gold as a "ultimate assets" will certainly sought after by investors. Fannie Mae on the premises and the United States experienced the crisis at the same time, the U.S. mortgage giant IndyMac Bank credit crunch because of state, such as multiple suppressing prices fell, on the 11th by the U.S. Office of Thrift Supervision to take over, this is also the second largest in U.S. history was closed Financial institutions. No doubt the news will have a stronger supporting gold.
"This week is the price indices for weeks, Europe and the United States and China's CPI would have been announced, which will also boost gold," gold-futures researcher at the way the rich and powerful that as oil prices soared earlier, the statistics on all fronts , This wave of price increase will be high, the gold like this is a big positive. "China's CPI up or lower, but Europe and the United States absolute value or more, so this data would be more effective stimulus."
Experts said that this round of the disc is expected to rise again to 1,000 U.S. dollars Mogao historical juncture, due to exchange rate reasons, or the disk will be smaller than the disk, but is expected into the 225 yuan / g above. Shanghai launched at the beginning of King Kong, in this juncture, a brief stay.
"In addition, Hong Kong will be launched in October this year, gold futures, the market will be formed with the previous period before the launch of a similar atmosphere." Rich and powerful way that the market has been uplifting atmosphere, the entire third quarter should be more oriented to look at .
Currently, gold investment demand is still strong. According to statistics, the world's largest publicly traded gold funds street Tracks of gold holdings have exceeded 700 tons mark, as at last Friday of the fund for 705.9 tons of gold. Last week, an increase of a total of 47 tons of gold holdings, as the biggest ever week of overweight.
Short-term or lower demand
The industry said that the recent price gains have been large, the risk of short-term pullback is being accumulated, set in gold in the 950 U.S. dollars / oz consolidation of the possibility of greater, so investors need to beware of this.
"The dollar index rebounded yesterday, the market for the U.S. government's initiatives to save the market has some positive reaction." Rich and powerful way that the previous gains due to fierce, so the United States-gold may be in the evening test of 950 U.S. dollars / ounce mark. "Judging from the current market performance, the gold holding 950 U.S. dollars, and the possibility of more consolidation."
There are market participants that because of the continuous Tiaokonggaokai yesterday's Shanghai, 210 yuan in straight Skip the important point, leaving a very large gap Tiaokong, may continue its upward pressure on a certain breakthrough, A short period of time ruled out the possibility of technical correction. "But the domestic gold Tiaokong gap reference value is not too much." Rich and powerful way that not too worried about the gap.
Experts said that the long-term view of the double bottom of the form can confirm that investors continue to remain the major trend upward. If there Huidang investors, investors should buy the dips strategy. At present the short term can be a single space.
The domestic gold futures sharply higher yesterday, Tiaokong rate of 2 percent, one stroke broke the 209 to 212 yuan of the four integral juncture. Shanghai followed a day to maintain the high shocks, the major contracts stabilize in the top 212 yuan, to give great confidence in long, long afternoon buying increased noticeably. Shanghai to close at the end of 0812 was 212.22 yuan, rose last week to settle at 5 4.07 yuan / g, or 1.96 percent, hand positions by 1366.
Fundamentals to promote gold
Shanghai Gold up all its power from the US-gold in last Friday for 950 and 960 U.S. dollars breakthrough juncture. In this round of the gold rally, the market that there are two reasons: First, Iran test-fired missiles on the international gold market hedging demand triggered the second is Earlier reports said the U.S. government is considering to take over Fannie Mae and premises of the United States, the United States, Loan-to-recurrence of the haze crisis, gold as a "ultimate assets" will certainly sought after by investors. Fannie Mae on the premises and the United States experienced the crisis at the same time, the U.S. mortgage giant IndyMac Bank credit crunch because of state, such as multiple suppressing prices fell, on the 11th by the U.S. Office of Thrift Supervision to take over, this is also the second largest in U.S. history was closed Financial institutions. No doubt the news will have a stronger supporting gold.
"This week is the price indices for weeks, Europe and the United States and China's CPI would have been announced, which will also boost gold," gold-futures researcher at the way the rich and powerful that as oil prices soared earlier, the statistics on all fronts , This wave of price increase will be high, the gold like this is a big positive. "China's CPI up or lower, but Europe and the United States absolute value or more, so this data would be more effective stimulus."
Experts said that this round of the disc is expected to rise again to 1,000 U.S. dollars Mogao historical juncture, due to exchange rate reasons, or the disk will be smaller than the disk, but is expected into the 225 yuan / g above. Shanghai launched at the beginning of King Kong, in this juncture, a brief stay.
"In addition, Hong Kong will be launched in October this year, gold futures, the market will be formed with the previous period before the launch of a similar atmosphere." Rich and powerful way that the market has been uplifting atmosphere, the entire third quarter should be more oriented to look at .
Currently, gold investment demand is still strong. According to statistics, the world's largest publicly traded gold funds street Tracks of gold holdings have exceeded 700 tons mark, as at last Friday of the fund for 705.9 tons of gold. Last week, an increase of a total of 47 tons of gold holdings, as the biggest ever week of overweight.
Short-term or lower demand
The industry said that the recent price gains have been large, the risk of short-term pullback is being accumulated, set in gold in the 950 U.S. dollars / oz consolidation of the possibility of greater, so investors need to beware of this.
"The dollar index rebounded yesterday, the market for the U.S. government's initiatives to save the market has some positive reaction." Rich and powerful way that the previous gains due to fierce, so the United States-gold may be in the evening test of 950 U.S. dollars / ounce mark. "Judging from the current market performance, the gold holding 950 U.S. dollars, and the possibility of more consolidation."
There are market participants that because of the continuous Tiaokonggaokai yesterday's Shanghai, 210 yuan in straight Skip the important point, leaving a very large gap Tiaokong, may continue its upward pressure on a certain breakthrough, A short period of time ruled out the possibility of technical correction. "But the domestic gold Tiaokong gap reference value is not too much." Rich and powerful way that not too worried about the gap.
Experts said that the long-term view of the double bottom of the form can confirm that investors continue to remain the major trend upward. If there Huidang investors, investors should buy the dips strategy. At present the short term can be a single space.
Industry: long-term bullish on the domestic price of gold below the international valuation of the company
Source: Yangcheng Evening News
At present gold prices remain high, the price of gold from the impact of factors, the growing problem of global inflationary pressures, high oil prices, U.S. economic prospects of the uncertainty, central banks in foreign exchange reserves in gold reserves in the proportion of Historical status (especially China), the gold mining costs rising, and so on the gold price factors have provided a strong support, and the only negative factor the price of gold potential rebound in U.S. dollars only possibility. Long-term bullish on gold, while the current domestic gold industry valuation lower than international counterparts.
At present the domestic gold industry listed companies have increased the reserves of gold resources for the next few years, Zijin Mining, Gold, Shandong Gold-gold reserves are likely to increase substantially. And affect the company's performance the most important factor is the company's production for the volume and cost control. In production for the increment in Shandong Gold and Gold in a more pronounced growth. In the Gold and Shandong Gold-performance this year will be significantly improved, has obvious advantages of the valuation, the proposed purchase. Zijin in previous years and because of their good performance, the company's operating flexibility, industry-leading technology and cost advantage, thickening the future the possibility of gold reserves, as a long-term investments held varieties. Chenzhou mining industry's performance also raised for the project pending the acquisition of Kuangquan progress and results.
Gold: the best varieties to resist inflation
By the world situation in the uncertain future, to curb terrorist activities, increase the risk of local conflicts; obvious signs of U.S. economic recession, the dollar continued to weaken; crude oil prices rising gold and other external factors that lead to preserve and increase the functions of the more apparent, as well as gold jewelry consumer demand increases , A limited supply of gold and other internal factors have led to the needs of tension, taking into account the adjustment of foreign exchange reserves of central banks to increase the possibility of gold reserves, gold prices in the medium to long term will show a rising trend. The international gold has broken through the 1980 set of 850 U.S. dollars / oz historical high, reaching 950 U.S. dollars / oz. However, inflation and other factors will be converted to gold, 1980 of 850 U.S. dollars / oz gold equivalent to the current 1,500 U.S. dollars / ounce, gold is still greater growth potential. Although the short-term dollar rally, the European Central Bank and the IMF to sell gold on gold movements to a certain extent, but the long term, gold can still maintain a high level. A conservative estimate 2008 average price of gold can be maintained at 200 yuan / g above.
The current price of gold, down from a high level. However, the factors affecting gold prices, the increasingly serious global inflationary pressures, high oil prices, U.S. economic prospects of the uncertainty, central banks in foreign exchange reserves in gold reserves in the proportion of the historical status (particularly China), the gold mining costs rising, and so on the gold price factors have provided a strong support, and the only negative factor the price of gold potential rebound in U.S. dollars only possibility.
At present the Federal Reserve on April 30 to the Federal Reserve funds rate will be reduced 25 BP, which is the Federal Reserve in September 2007 since the 7th cut the federal funds rate from 5.25 percent down to 2.0 percent. As CPI has been for five consecutive months above 4 percent, the United States has in fact entered the state of negative interest rates. Given the risks to inflation worries and low level of interest rates situation, the market expected the current round of Fed rate cut may be the last rate cut cycle. This also triggered a dollar a short-term rebound.
Currently the federal funds rate only 2.0%, from the absolute level of the already relatively low, and certainly room for a rate cut is limited. Delay in the monetary policy in effect, pre-cut substantially in the next period of time may have an effect, the Fed also need time to observe the effects of policy. In addition, energy and agricultural prices also rose sharply increased risk of inflation caused by the United States. Several from this point of view, the United States has relatively limited room for a rate cut, the Fed lowered interest rates will also became more cautious. However, from another perspective, the U.S. economy still in decline access, the real estate market continues to deteriorate, the U.S. economy to recover in the fourth quarter before.
From the United States the economic situation worse, because even if the dollar by the end of the cycle of interest rate rebounded, but their efforts will not be too great, and the United States is expected that the future will be at the bottom of the oscillation, the specific movements to further Western Europe, Japan and other countries The relative economic status than with the United States. It is expected that short-term rebound in the United States will not cause sharp price drop.
Domestic valuation below the international peer
The face of "Die Die endless," the A-share market, the central down to the valuation industry downturn, we have been thinking about a problem, in the bear market, the existence of a valuation of the border security »Of course, this issue could be from a macro-economic trends, National economic sectors, metal supply and demand status, the future price movements and so on in-depth analysis of the past, but most can only give qualitative judgement and the judgement of quantitative is difficult to estimate at the bottom of the still of no avail. The simplest method is feasible with the international market developed in line with international practice.
1, the international stock market experienced more than 100 years, experienced several rounds of Niuxiong conversion replacement for mature industries (such as steel, nonferrous metals, etc.) valuation relative stability of maturity, the bull market, bear market under the valuation is relatively reasonable, 2, the current inflationary pressure Is global, foreign and domestic inflationary pressures, relatively more severe, 3, non-ferrous metals, the basic price of globalization, countries in the valuation of the stock market are considered the world's macroeconomic development, metal supply and demand prospects, price fluctuations The impact of factors such as performance, 4 to economic growth in 1996, China is expected this year although the growth rate of GDP from last year's 11.9 percent drop to 10 percent, but still far higher than the developed countries 3 percent to 4 percent economic growth; , Non-ferrous metals industries in developed countries is being viewed as a sunset industry, the development of limited growth, while in China's nonferrous metals industry in the national economy still occupy an important position can not be replaced, but maintained a rapid growth momentum of 6, relative Kuang Caixuan mature gold in foreign countries, fewer and fewer of its resources, mine have dug about 2,000 meters underground to the level of domestic and mine are more than 1,000 meters underground in the depth, the depth of prospecting is still great potential to tap.
Therefore, the valuation of the domestic gold industry can secure borders and the international convergence of valuation, at least not lower than the international market. Judging from the current international and domestic gold industry valuation comparison, the domestic non-ferrous metal or even slightly higher than the valuation of the international valuation standards. Therefore, the current valuation level of non-ferrous metal industry has basically been at a reasonable interval. (Guangfa Securities Huang Yong)
At present gold prices remain high, the price of gold from the impact of factors, the growing problem of global inflationary pressures, high oil prices, U.S. economic prospects of the uncertainty, central banks in foreign exchange reserves in gold reserves in the proportion of Historical status (especially China), the gold mining costs rising, and so on the gold price factors have provided a strong support, and the only negative factor the price of gold potential rebound in U.S. dollars only possibility. Long-term bullish on gold, while the current domestic gold industry valuation lower than international counterparts.
At present the domestic gold industry listed companies have increased the reserves of gold resources for the next few years, Zijin Mining, Gold, Shandong Gold-gold reserves are likely to increase substantially. And affect the company's performance the most important factor is the company's production for the volume and cost control. In production for the increment in Shandong Gold and Gold in a more pronounced growth. In the Gold and Shandong Gold-performance this year will be significantly improved, has obvious advantages of the valuation, the proposed purchase. Zijin in previous years and because of their good performance, the company's operating flexibility, industry-leading technology and cost advantage, thickening the future the possibility of gold reserves, as a long-term investments held varieties. Chenzhou mining industry's performance also raised for the project pending the acquisition of Kuangquan progress and results.
Gold: the best varieties to resist inflation
By the world situation in the uncertain future, to curb terrorist activities, increase the risk of local conflicts; obvious signs of U.S. economic recession, the dollar continued to weaken; crude oil prices rising gold and other external factors that lead to preserve and increase the functions of the more apparent, as well as gold jewelry consumer demand increases , A limited supply of gold and other internal factors have led to the needs of tension, taking into account the adjustment of foreign exchange reserves of central banks to increase the possibility of gold reserves, gold prices in the medium to long term will show a rising trend. The international gold has broken through the 1980 set of 850 U.S. dollars / oz historical high, reaching 950 U.S. dollars / oz. However, inflation and other factors will be converted to gold, 1980 of 850 U.S. dollars / oz gold equivalent to the current 1,500 U.S. dollars / ounce, gold is still greater growth potential. Although the short-term dollar rally, the European Central Bank and the IMF to sell gold on gold movements to a certain extent, but the long term, gold can still maintain a high level. A conservative estimate 2008 average price of gold can be maintained at 200 yuan / g above.
The current price of gold, down from a high level. However, the factors affecting gold prices, the increasingly serious global inflationary pressures, high oil prices, U.S. economic prospects of the uncertainty, central banks in foreign exchange reserves in gold reserves in the proportion of the historical status (particularly China), the gold mining costs rising, and so on the gold price factors have provided a strong support, and the only negative factor the price of gold potential rebound in U.S. dollars only possibility.
At present the Federal Reserve on April 30 to the Federal Reserve funds rate will be reduced 25 BP, which is the Federal Reserve in September 2007 since the 7th cut the federal funds rate from 5.25 percent down to 2.0 percent. As CPI has been for five consecutive months above 4 percent, the United States has in fact entered the state of negative interest rates. Given the risks to inflation worries and low level of interest rates situation, the market expected the current round of Fed rate cut may be the last rate cut cycle. This also triggered a dollar a short-term rebound.
Currently the federal funds rate only 2.0%, from the absolute level of the already relatively low, and certainly room for a rate cut is limited. Delay in the monetary policy in effect, pre-cut substantially in the next period of time may have an effect, the Fed also need time to observe the effects of policy. In addition, energy and agricultural prices also rose sharply increased risk of inflation caused by the United States. Several from this point of view, the United States has relatively limited room for a rate cut, the Fed lowered interest rates will also became more cautious. However, from another perspective, the U.S. economy still in decline access, the real estate market continues to deteriorate, the U.S. economy to recover in the fourth quarter before.
From the United States the economic situation worse, because even if the dollar by the end of the cycle of interest rate rebounded, but their efforts will not be too great, and the United States is expected that the future will be at the bottom of the oscillation, the specific movements to further Western Europe, Japan and other countries The relative economic status than with the United States. It is expected that short-term rebound in the United States will not cause sharp price drop.
Domestic valuation below the international peer
The face of "Die Die endless," the A-share market, the central down to the valuation industry downturn, we have been thinking about a problem, in the bear market, the existence of a valuation of the border security »Of course, this issue could be from a macro-economic trends, National economic sectors, metal supply and demand status, the future price movements and so on in-depth analysis of the past, but most can only give qualitative judgement and the judgement of quantitative is difficult to estimate at the bottom of the still of no avail. The simplest method is feasible with the international market developed in line with international practice.
1, the international stock market experienced more than 100 years, experienced several rounds of Niuxiong conversion replacement for mature industries (such as steel, nonferrous metals, etc.) valuation relative stability of maturity, the bull market, bear market under the valuation is relatively reasonable, 2, the current inflationary pressure Is global, foreign and domestic inflationary pressures, relatively more severe, 3, non-ferrous metals, the basic price of globalization, countries in the valuation of the stock market are considered the world's macroeconomic development, metal supply and demand prospects, price fluctuations The impact of factors such as performance, 4 to economic growth in 1996, China is expected this year although the growth rate of GDP from last year's 11.9 percent drop to 10 percent, but still far higher than the developed countries 3 percent to 4 percent economic growth; , Non-ferrous metals industries in developed countries is being viewed as a sunset industry, the development of limited growth, while in China's nonferrous metals industry in the national economy still occupy an important position can not be replaced, but maintained a rapid growth momentum of 6, relative Kuang Caixuan mature gold in foreign countries, fewer and fewer of its resources, mine have dug about 2,000 meters underground to the level of domestic and mine are more than 1,000 meters underground in the depth, the depth of prospecting is still great potential to tap.
Therefore, the valuation of the domestic gold industry can secure borders and the international convergence of valuation, at least not lower than the international market. Judging from the current international and domestic gold industry valuation comparison, the domestic non-ferrous metal or even slightly higher than the valuation of the international valuation standards. Therefore, the current valuation level of non-ferrous metal industry has basically been at a reasonable interval. (Guangfa Securities Huang Yong)
Wall Street gold close to 1,000 U.S. dollars an ounce, a four-month high
Wall Street Monday gold closed up 13.10 U.S. dollars an ounce at 973.70 U.S. dollars, creating the highest close in four months. Gold price in the past month has increased nearly 100 U.S. dollars, or 11 percentage points. Analysts believe that even if the gold in the near future more than 1,000 U.S. dollars an ounce, from the 1980 inflation at the 2200 U.S. dollars an ounce, there is still great distance.
The New York Mercantile Exchange by the other precious metals prices also increased in September silver rose 43 cents to close at 19.25 U.S. dollars; September copper rose 1.2 cents to close at 3.752 U.S. dollars.
The New York Mercantile Exchange by the other precious metals prices also increased in September silver rose 43 cents to close at 19.25 U.S. dollars; September copper rose 1.2 cents to close at 3.752 U.S. dollars.
South Africa strike gold substantial influx of gold production is expected to further exploration 1,000 U.S. dollars
Source: China Securities News Author: Reuters have Yingqi
South Africa, the recent influx could strike gold production decreased significantly coincides with increased global demand for gold hedge against inflation, the international gold exploration is expected to further 1,000 U.S. dollars / oz.
Strike by production continued to drop
In response to the South African Trade Unions (COSATU) on protest food and energy prices soaring, with 320,000 members of the South Africa National Union of Mineworkers (NUM) will be on August 6 for a national strike.
Recently rising energy costs substantially increase the miners direct transport costs, rising interest rates led to the workers could not afford rent, and the high price of food is the millions of miners hovering at the edge of hunger, NUM hope that the strike by miners from the departments concerned to live the status quo Attention, and to take effective response measures. In addition, South Africa have taken place across the country more than the deaths of the miners were attacked, security is always NUM has not improved since the end of the 07 re-launched a national strike, one of the leading causes.
NUM also said it has organized against the world's fourth largest gold producer in South Africa Jintian companies (Gold Field) to strike, asked them to strengthen safety measures. First half of this year, Jin Tian has 23 workers dead, July 15 miners in the early morning have a kloof mine victims. The company has also planned in August cut-off day, the miners to reduce casualties. As Jintian South Africa's second-largest gold producer, the country's gold production will yield a certain extent. Jintian current gold production of about 70-75 kilograms (2471-2648 ounces).
On the other hand, Jintian Group as a joint venture in China the first gold mine Macao and China's largest shareholder, with China close to the mining industry. Although the strike was only South Africa, but production will reduce the whole group profits, in turn affect China's gold market and gold-related stocks. At the same time, the Japanese government in July to solve the problem of high oil prices of new measures against South Africa as well as high oil prices and high grain prices at the strike will convey enough information from Governments to jointly control oil prices also cause for concern.
South Africa Mining Board data show that by March 2008, the country's annual output of 254.7 tons of gold, second only to China. Because of security problems caused by strikes and the power restriction policy has been in the first half of the South African gold production fell 7.4 percent. July 9 to August 6 period, many mining areas will face shutdown caused by the strike because of the situation, resulting in the South African gold output decreased. Gold SPDR Trust Fund on July 11 holdings increased 7.2 percent to 705.9 tonnes, breaking the March 17 high of 663.8 tonnes of the record indicates that demand in the market experienced a four-month period of weakness has started to recover. This will result in gold supply and demand fundamentals on further tightening, the formation of positive factors supporting the gold price.
U.S. dollars and is still supporting oil prices
Medium term, the less likely the Federal Reserve raising interest rates this year. Bernanke before and support the Government of the strong dollar's speech did not bring real effect, given the current strong economic fundamentals than the countries are raising interest rates to inflation, the dollar and the currencies of these countries will not narrow interest rate differentials. At the same time, the debt crisis erupted in 2001 after Fannie and premises of the U.S. crisis signifies the end of the global economic impact of the financial turmoil there is still a long way to go. Before the economic recovery in the United States, the dollar will remain weak, which will make the U.S. dollar is negatively related to access to support oil prices. Despite the recent price pullback row, including Japan, but apart from a few countries, OPEC and other countries are not taken to curb high oil prices, continued market speculation, is expected oil prices over a period of time will remain high, By means of high global oil prices pushed inflation in the short term will not come down.
Nearly 30 years of monthly fluctuations of the statistics show that in September and October are usually the best performance of gold. Mainly by the world's largest gold importer and consumer of religion in India and the wedding season before the onset of gold on the purchase of support activities. Vietnam's financial crisis, outside India as the most likely countries in similar circumstances, the people of India and may be purchased for the value of gold and other emerging countries consumers may also make the same move, so that gold consumption ahead of the peak season Arrival.
International gold in four consecutive trading day down after July 9 began to appear substantially Elevated and in the subsequent five trading days was up about 6.7 percent, while crude oil prices on the same trend for cross-sing. South Africa, the longer the duration of the strike, involving a wide range, maintaining and increasing global demand coincided with the rise of the occasion, or will drive gold once again shaken by thousands of U.S. dollars mark. At the same time, gold consumption in the coming season and the weak dollar, high inflation and the tense situation in the Middle East by factors such as strong support, is expected in 2008, the year a new record high, and in the longer period of time to maintain a bull market pattern.
South Africa, the recent influx could strike gold production decreased significantly coincides with increased global demand for gold hedge against inflation, the international gold exploration is expected to further 1,000 U.S. dollars / oz.
Strike by production continued to drop
In response to the South African Trade Unions (COSATU) on protest food and energy prices soaring, with 320,000 members of the South Africa National Union of Mineworkers (NUM) will be on August 6 for a national strike.
Recently rising energy costs substantially increase the miners direct transport costs, rising interest rates led to the workers could not afford rent, and the high price of food is the millions of miners hovering at the edge of hunger, NUM hope that the strike by miners from the departments concerned to live the status quo Attention, and to take effective response measures. In addition, South Africa have taken place across the country more than the deaths of the miners were attacked, security is always NUM has not improved since the end of the 07 re-launched a national strike, one of the leading causes.
NUM also said it has organized against the world's fourth largest gold producer in South Africa Jintian companies (Gold Field) to strike, asked them to strengthen safety measures. First half of this year, Jin Tian has 23 workers dead, July 15 miners in the early morning have a kloof mine victims. The company has also planned in August cut-off day, the miners to reduce casualties. As Jintian South Africa's second-largest gold producer, the country's gold production will yield a certain extent. Jintian current gold production of about 70-75 kilograms (2471-2648 ounces).
On the other hand, Jintian Group as a joint venture in China the first gold mine Macao and China's largest shareholder, with China close to the mining industry. Although the strike was only South Africa, but production will reduce the whole group profits, in turn affect China's gold market and gold-related stocks. At the same time, the Japanese government in July to solve the problem of high oil prices of new measures against South Africa as well as high oil prices and high grain prices at the strike will convey enough information from Governments to jointly control oil prices also cause for concern.
South Africa Mining Board data show that by March 2008, the country's annual output of 254.7 tons of gold, second only to China. Because of security problems caused by strikes and the power restriction policy has been in the first half of the South African gold production fell 7.4 percent. July 9 to August 6 period, many mining areas will face shutdown caused by the strike because of the situation, resulting in the South African gold output decreased. Gold SPDR Trust Fund on July 11 holdings increased 7.2 percent to 705.9 tonnes, breaking the March 17 high of 663.8 tonnes of the record indicates that demand in the market experienced a four-month period of weakness has started to recover. This will result in gold supply and demand fundamentals on further tightening, the formation of positive factors supporting the gold price.
U.S. dollars and is still supporting oil prices
Medium term, the less likely the Federal Reserve raising interest rates this year. Bernanke before and support the Government of the strong dollar's speech did not bring real effect, given the current strong economic fundamentals than the countries are raising interest rates to inflation, the dollar and the currencies of these countries will not narrow interest rate differentials. At the same time, the debt crisis erupted in 2001 after Fannie and premises of the U.S. crisis signifies the end of the global economic impact of the financial turmoil there is still a long way to go. Before the economic recovery in the United States, the dollar will remain weak, which will make the U.S. dollar is negatively related to access to support oil prices. Despite the recent price pullback row, including Japan, but apart from a few countries, OPEC and other countries are not taken to curb high oil prices, continued market speculation, is expected oil prices over a period of time will remain high, By means of high global oil prices pushed inflation in the short term will not come down.
Nearly 30 years of monthly fluctuations of the statistics show that in September and October are usually the best performance of gold. Mainly by the world's largest gold importer and consumer of religion in India and the wedding season before the onset of gold on the purchase of support activities. Vietnam's financial crisis, outside India as the most likely countries in similar circumstances, the people of India and may be purchased for the value of gold and other emerging countries consumers may also make the same move, so that gold consumption ahead of the peak season Arrival.
International gold in four consecutive trading day down after July 9 began to appear substantially Elevated and in the subsequent five trading days was up about 6.7 percent, while crude oil prices on the same trend for cross-sing. South Africa, the longer the duration of the strike, involving a wide range, maintaining and increasing global demand coincided with the rise of the occasion, or will drive gold once again shaken by thousands of U.S. dollars mark. At the same time, gold consumption in the coming season and the weak dollar, high inflation and the tense situation in the Middle East by factors such as strong support, is expected in 2008, the year a new record high, and in the longer period of time to maintain a bull market pattern.
International gold short-term fundamentals are strong, frustrated the tendency to negative
Crude oil fell substantially by breaking 130 U.S. dollars the impact of information, the end of last week, the international price continues to drop, was lowered 949 U.S. dollars / oz location, after 954 U.S. dollars / oz a barrel.
Fundamentals have a tendency to negative
Market fundamentals have to short-term negative trend. The substantial decline in crude oil prices drag gold lower as the "chief culprit."
Crude significant drag diving gold last week for three consecutive trading day lower, from the disk of crude oil, oil prices are further signs of weakening, so there may be lowered gold lower position.
In another context, last Friday night announced the first U.S. bank Citibank's financial reporting better than expected, weakening the weak U.S. economy investors see the psychological, some hedge funds outflow from the city.
Short-term technical indicators also Piankong, on K-Line at Cross Yinxian, Zhou K line with long shadow at the Cross Yinxian, the breakthrough in the week when blocked at 5-day MA Shayuergui, MACD, KD lines are to air, Inflection point drop, short-term trend has been strong, frustrated.
At present, the international gold short-term support at 950 U.S. dollars / oz line, if effective below, it will trigger deep down 20 U.S. dollars, the next support level at 920 U.S. dollars.
Forecast for this week:
Tend to stabilize short-term narrow range of oscillation
After a sharp decline, the international gold to buy the super-pressure has been released, technical, 950 U.S. dollars / oz support at the relatively safe, short-term trend of more inclined to stabilize narrow range of oscillation. If no negative information blockbuster hit, the gold substantially below 930 U.S. dollars / oz location of the possibility of relatively small.
To be announced this week the economic fundamentals of data-intensive than last week, the city may have an impact on the only announced for Tuesday night's manufacturing index and Friday night's U.S. consumer confidence index is expected to reverse the fate of the city may And not much. Therefore, apart from investors concerned about economic data, also need to pay attention to the oil market and geo-political role, such as the sharp decline in gold, will also be subject to oil prices continue to plunge the impact.
Operation: Zhaojin Group Guangdong gold-trading center Chen believes that if the gold is expected to line lowered to 935 U.S. dollars, which is a good opportunity for investors Jiancang, from the Global Fund gold ETF in the position of the center line and more emotional to see the trend is still dominant , In the gold slowly into the season when bargain hunting buying is sensible investment ideas. If the golden opportunity to return to the first 930 to 935 U.S. dollars, investors can wait for opportunities to absorb.
Gold Club
950 U.S. dollars / oz support at the relatively safe, short-term trend of more inclined to stabilize narrow range of oscillation. In the absence of heavy bearish this week under the gold substantially below 930 U.S. dollars / oz location of the possibility of relatively small.
Fundamentals have a tendency to negative
Market fundamentals have to short-term negative trend. The substantial decline in crude oil prices drag gold lower as the "chief culprit."
Crude significant drag diving gold last week for three consecutive trading day lower, from the disk of crude oil, oil prices are further signs of weakening, so there may be lowered gold lower position.
In another context, last Friday night announced the first U.S. bank Citibank's financial reporting better than expected, weakening the weak U.S. economy investors see the psychological, some hedge funds outflow from the city.
Short-term technical indicators also Piankong, on K-Line at Cross Yinxian, Zhou K line with long shadow at the Cross Yinxian, the breakthrough in the week when blocked at 5-day MA Shayuergui, MACD, KD lines are to air, Inflection point drop, short-term trend has been strong, frustrated.
At present, the international gold short-term support at 950 U.S. dollars / oz line, if effective below, it will trigger deep down 20 U.S. dollars, the next support level at 920 U.S. dollars.
Forecast for this week:
Tend to stabilize short-term narrow range of oscillation
After a sharp decline, the international gold to buy the super-pressure has been released, technical, 950 U.S. dollars / oz support at the relatively safe, short-term trend of more inclined to stabilize narrow range of oscillation. If no negative information blockbuster hit, the gold substantially below 930 U.S. dollars / oz location of the possibility of relatively small.
To be announced this week the economic fundamentals of data-intensive than last week, the city may have an impact on the only announced for Tuesday night's manufacturing index and Friday night's U.S. consumer confidence index is expected to reverse the fate of the city may And not much. Therefore, apart from investors concerned about economic data, also need to pay attention to the oil market and geo-political role, such as the sharp decline in gold, will also be subject to oil prices continue to plunge the impact.
Operation: Zhaojin Group Guangdong gold-trading center Chen believes that if the gold is expected to line lowered to 935 U.S. dollars, which is a good opportunity for investors Jiancang, from the Global Fund gold ETF in the position of the center line and more emotional to see the trend is still dominant , In the gold slowly into the season when bargain hunting buying is sensible investment ideas. If the golden opportunity to return to the first 930 to 935 U.S. dollars, investors can wait for opportunities to absorb.
Gold Club
950 U.S. dollars / oz support at the relatively safe, short-term trend of more inclined to stabilize narrow range of oscillation. In the absence of heavy bearish this week under the gold substantially below 930 U.S. dollars / oz location of the possibility of relatively small.
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